Eaton Vance Management reduced its holdings in Citigroup Inc. (NYSE:C) by 1.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,488,899 shares of the financial services provider’s stock after selling 18,031 shares during the period. Eaton Vance Management owned approximately 0.05% of Citigroup worth $99,578,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also modified their holdings of the business. CIBC World Markets Inc. grew its stake in shares of Citigroup by 8.9% in the 2nd quarter. CIBC World Markets Inc. now owns 430,106 shares of the financial services provider’s stock worth $28,765,000 after buying an additional 35,246 shares in the last quarter. Commonwealth Bank of Australia grew its stake in shares of Citigroup by 0.7% in the 2nd quarter. Commonwealth Bank of Australia now owns 477,497 shares of the financial services provider’s stock worth $31,933,000 after buying an additional 3,222 shares in the last quarter. Tredje AP fonden grew its stake in shares of Citigroup by 13.1% in the 2nd quarter. Tredje AP fonden now owns 252,673 shares of the financial services provider’s stock worth $16,899,000 after buying an additional 29,169 shares in the last quarter. Exencial Wealth Advisors LLC purchased a new position in shares of Citigroup in the 2nd quarter worth $584,000. Finally, AMG National Trust Bank grew its stake in shares of Citigroup by 3.6% in the 2nd quarter. AMG National Trust Bank now owns 77,621 shares of the financial services provider’s stock worth $5,191,000 after buying an additional 2,692 shares in the last quarter. 72.31% of the stock is owned by institutional investors and hedge funds.
C has been the subject of a number of recent research reports. Bank of America Corporation reissued a “neutral” rating on shares of Citigroup in a research note on Wednesday, October 11th. Credit Suisse Group reissued an “outperform” rating and issued a $76.00 price objective (up from $70.00) on shares of Citigroup in a research note on Wednesday, July 26th. BidaskClub lowered shares of Citigroup from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Wells Fargo & Company restated a “buy” rating on shares of Citigroup in a report on Monday, October 2nd. Finally, HSBC Holdings plc started coverage on shares of Citigroup in a report on Tuesday, July 11th. They issued a “hold” rating and a $71.00 target price for the company. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $74.77.
In other news, insider Jeffrey R. Walsh sold 5,000 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $68.97, for a total transaction of $344,850.00. Following the sale, the insider now owns 56,394 shares of the company’s stock, valued at $3,889,494.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Francisco Aristeguieta sold 40,000 shares of the stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $67.55, for a total transaction of $2,702,000.00. Following the sale, the chief executive officer now directly owns 77,570 shares in the company, valued at approximately $5,239,853.50. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by corporate insiders.
Citigroup (NYSE:C) last issued its quarterly earnings results on Thursday, October 12th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.10. The business had revenue of $18.17 billion for the quarter, compared to analysts’ expectations of $17.87 billion. Citigroup had a net margin of 18.11% and a return on equity of 7.48%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.24 earnings per share.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Monday, November 6th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $1.28 annualized dividend and a dividend yield of 1.74%. Citigroup’s dividend payout ratio is presently 24.66%.
Citigroup Inc (Citi) is a financial services holding company. The Company’s whose businesses provide consumers, corporations, governments and institutions with a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management.
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